(CNN) — Isis, the mobile wallet service, founded by AT&T, Verizon and T-mobile has a branding problem.
Isis CEO Michael Abbott said Monday that the firm is changing its name to avoid association with the Islamic State of Iraq and Syria. That’s the terrorist group frequently referred to by the acronym ISIS.
In a statement, Abbot said they have no interest in sharing a name with a group whose name has become synonymous with violence.
He added their hearts go out to those who are suffering.
A new name has yet to be announced.